Port Charlotte's real estate market is experiencing a price correction, with values down 6.6% from last year. Home prices have decreased 2.1% in the past month. With 6.5 months of supply, Port Charlotte's inventory levels remain relatively tight. Homes are taking about 58 days to sell, which is 1 days longer than this time last year. A significant 30.9% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 9.7% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Port Charlotte market with the affordability index at 22.1. Current trends suggest further price adjustments may occur as the market continues to favor buyers.
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